Startup · $154m raised
Every investor coverage indicates participated in a round Fortescue raised.
| Investor | Rounds | Invested |
|---|---|---|
| Australian Renewable Energy Agency (ARENA) | Grant · Grant | $45,000,000 |
| Queensland Government | Grant | $66,000,000 |
| the federal government | Grant | - |
Every published round Fortescue took part in, and every parcel of existing shares it bought off another holder. Deals we hold but haven't published yet are not counted.
| Company | Stage | Announced | Amount | Role | Alongside | Sources |
|---|---|---|---|---|---|---|
| Electric Hydrogen | Series C | Oct 2023 | $380m | Lead | Crunchbase News (Thu 16 May 2024), Crunchbase News (Thu 9 Nov 2023) |
Companies Fortescue has backed in a published round, and companies whose existing shares it bought off another holder.
| Company | What it does | First invested | Rounds | Led |
|---|---|---|---|---|
| Electric Hydrogen | Oct 2023, Series C | 1 | 1 |
Fund closes reported for Fortescue, as distinct from the investments it has made.
Companies Fortescue has backed that another company then bought. An exit for the holding, not a deal Fortescue did.
| Company | Bought by | Kind | Announced | Price |
|---|---|---|---|---|
| No portfolio company of Fortescue is recorded as having been acquired. | ||||
Companies Fortescue acquired or merged with, per published coverage. Buying a company is not investing in one: nothing here counts in the deals column.
| Company | Kind | Announced | Price | Sources |
|---|---|---|---|---|
| Nabrawind | Acquisition | 2025 | - | RenewEconomy (Tue 26 May 2026), RenewEconomy (Tue 26 May 2026) |
Stories naming Fortescue. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
The renewable energy agency grants Equans Solar & Storage $25 million for Lightspeed, a three-year program trialling up to ten technologies to cut the cost of building and running large-scale solar farms.
Filings show Canva backed Sharon AI's US$103 million December 2025 raise with Regal, Ellerston, Digital Alpha and others; the Sydney compute provider has since floated on Nasdaq and raised US$2.15 billion more.
Also Dealroom
Western Australia's government has shortlisted 23 companies for the 2026 Innovators of the Year awards across six categories; $310,000 in prizes will be shared in November, and past winners including Kanopy are recalled.
Perth-based drilling and exploration software company CorePlan raised a follow-on round led by existing investor EVP to fund global expansion.
Orica will proceed with its Hunter Valley green hydrogen plant after a final investment decision, the first under Hydrogen Headstart; earlier government grants to it and CIP's Murchison are recalled.
Orica has reached a final investment decision for its Hunter Valley green hydrogen and ammonia project, confirming government grant support, while other planned Australian hydrogen projects advance slowly or have been abandoned.
Also RenewEconomy
Spanish turbine-installation tech firm Nabrawind, bought by Fortescue, has completed its first crane-less turbine erection in Namibia; the miner intends to deploy the method at its Pilbara wind projects.
Also RenewEconomy
Edify Energy has shelved its Townsville green hydrogen plant for want of buyers, pivoting to solar and storage builds; governments are separately seeking repayment of hydrogen subsidies, including from Fortescue's closed Gladstone plant.
ARENA grants Fortescue $10m toward 6 MW chargers for its big battery mining trucks, to be trialled at Hazelmere and Christmas Creek, with the project finishing in late 2025.
Also RenewEconomy
Firmus announces three new non-executive directors joining its grid board from March 2026, each bringing finance, governance or resources and energy delivery experience.
Perth-based mining software firm CorePlan has secured $5 million in a follow-on raise, with existing backer EVP leading, to grow its team and push into drilling and geology workflows; BHP is a user.
Sparc Hydrogen, a Fortescue-backed joint venture, says its South Australian pilot plant has produced hydrogen continuously using sunlight and a catalyst; Fortescue Future Industries bought its stake in 2022.
A South Australian pilot plant run by Sparc Hydrogen, a venture of Sparc Technologies, Fortescue and the University of Adelaide, has shown sustained hydrogen production from sunlight and water alone.
The renewable energy agency has committed as much as $45m to Fortescue's Pilbara solar testing hub, where demonstration projects with Built Robotics and 5B will trial construction robotics and rapid-deployment solar technology.
The hydrogen partnership and a university have won a $2.75 million federal Innovate grant to advance a South Australian pilot reactor, adding to money their shareholders committed during 2025.
Sparc Technologies, Fortescue and the University of Adelaide have switched on an Adelaide pilot plant that makes green hydrogen from sunlight without electrolysers.
Melbourne document-AI firm Affinda, founded by Tim and Ben Toner, closed a $10m round from family offices and wealthy individuals after an earlier $13m raise; Deloitte ranked it the nation's fastest-growing AI company.
Roundup of Australian manufacturing updates: Sparc Hydrogen's R&D tax refund, executive appointments at Lockheed Martin Australia, Wellnex Life and Raytheon, a ReNu Energy power purchase deal, and BlueScope joining a low-carbon research centre.
Briefs roundup: Forbidden Foods is acquiring oat milk maker Oat Milk Goodness alongside a $650,000 raise, Orbital Corporation wins a $1 million WA grant, and Sam Roberts becomes Professionals Australia's CEO.
KPMG administrators took control of ProForm Foods, the company behind the Meet brand, and the piece recalls earlier raises at v2food and All G Foods as the plant-based sector cools.
Australia's renewable energy agency handed out $59.1 million in grants across two rounds, backing 21 university, CRC and startup projects in green hydrogen and cleaner iron and steel production.
Also RenewEconomy
RenewEconomy reports J-Power's $380 million takeover offer for ASX-listed Genex Power, a year after Skip Capital's failed attempt; the Japanese utility already owns a stake and has lent the company $35 million.
Also RenewEconomy
Andrew Forrest again postpones a decision on the Gibson Island green hydrogen project in Queensland, and his Squadron Energy appoints ex-APA head Rob Wheals chief executive, with Jason Willoughby shifting to chairman.
Michigan is funding Fortescue's new Detroit plant with a US$12.7 million grant plus city tax incentives, where the Australian company will make batteries, chargers and electrolysers from 2025.
A rolling roundup of Australian energy-sector job moves, listing dozens of executives, directors and ministers joining or leaving utilities, regulators, developers and industry bodies between May and December 2023.
Crunchbase's October 2023 unicorn board update: nine newcomers led by two cybersecurity firms, with Sydney's Employment Hero reaching unicorn status, Shield AI revalued upward, and Convoy and Olive AI shutting down.
Also Crunchbase News
Billionaire Mike Cannon-Brookes, via a Grok-linked joint venture with Quinbrook, has completed the buyout of SunCable out of administration; the article also recalls earlier raises and names an interim CEO.
Also RenewEconomy·Startup Daily·@AuManufacturing·Startup Daily·@AuManufacturing·@AuManufacturing
Paul Slaughter has abruptly left his role as chief executive of WA meat processor Harvest Road, becoming the latest in a series of senior departures from Twiggy Forrest's Tattarang group.
Roundup of manufacturing news: Fortescue's ammonia locomotive trial, Nova Eye's US regulatory delay, Wellnex completing its Mr Bright acquisition, ClearVue's research tax payment, and a photonic chip breakthrough.
Roundup of Australian manufacturing news: Matrix Composites raises via convertible note, Cronos hits a sales milestone, Ellen Medical finalists, ASC digitises its supply chain, a hydrogen refueller opens, and Titomic signs a US reseller.
News roundup: EMVision receives a $2.5 million NSW medical devices grant, ADDE appoints a liquidator, DroneShield wins an order, SciDev and Q-CTRL name executives, and ReNu Energy signs a non-binding term sheet with HESTA.
Also @AuManufacturing
Manufacturing roundup: Vaxxas wins a federal grant for vaccine patch production, Air Tip secures NT co-investment for its tipping trailer, COFA gains research funding, and Fortescue plans US hydrogen research spending.
Andrew Forrest's private investment company Tattarang is launching Tenmile, a Perth-based $250 million health-tech venture fund that has already backed Emyria and Carina Biotech and partnered with Rock Health.
Mining major Rio Tinto has joined Bill Gates' fund and other industrial and cleantech backers in a US$198 million Series B for hydrogen electrolyser developer Electric Hydrogen; Fortescue's electrolyser investments are also noted.
Roundup of Australian manufacturing items: Manildra draws on CEFC money to quit coal, Ankere Therapeutics launches with seed backing, Micro-X gear reaches Ukraine, plus a vessel naming, precinct tenders, an FFI appointment and a cable rebrand.
Fortescue Future Industries and Dutch fund Teslin Participates have provided undisclosed growth capital to thin-film solar maker Hyet Solar to speed up a Netherlands factory; the piece also recalls FFI's 2021 majority stake purchase.
Perth's Carbon280 joins a consortium awarded UK government funding for a hydrogen storage refuelling prototype in Wales, alongside Corre Energy, Worley, Element 2 and Energy Reform.
Also Startup News (WA)
The founders of the shuttered Stylerunner have raised seed funding for their new shopping app Her Black Book, led by Andrew Hagger with Touch Ventures support; the article recalls Stylerunner's acquisition by Accent Group.
Also SmartCompany·Startup Daily·Startup Daily·Startup Daily·Startup Daily·SmartCompany·SmartCompany
A year-in-review of Startup Daily's most-read 2021 stories, recalling major Australian tech exits including A Cloud Guru, Afterpay and Sweat, Canva's soaring valuation across three raises, Zero Co's crowdfunding record, and new VC funds.